Financial Results Briefing Materials (2025/4~2025/9)

Financial Results Briefing Materials

(2025/4/1～2025/9/30）

November 10, 2025

Note to future-oriented statements

The forward-looking statements in this document, including performance forecasting, are based on currently available information and assumptions considered reasonable by us and do not guarantee our future financial results. Actual results may differ greatly from the forecast figures depending on various factors.

‌FY2030 "Target Position"

" '24 Mid-Term Business Plan" marks the second phase toward FY2030 "Target Position." Based on the results of the previous medium-term management plan, which was implemented as a period for strengthening foundations,

we positioned the current plan ("'24 Mid-Term Business Plan" ) as a period for accelerating

growth and are implementing measures for further growth.

efficiency

Profitability Capital

Shareholder returns Capital investment

Human resource strategy

ESG

Net sales

100 Bil. yen

Operating profit

13 Bil. yen

ROE

10 %

Capital policies to enhance corporate value over the medium

to long term

Cultivate human resources to promote transformation

Contribute to the achievement of a sustainable society

(enhance social and economic value)

Increase in Revenue and Profit (Operating Profit and Ordinary Profit)

• Recorded the highest net sales for the second consecutive year since the

  divestiture of Automotive components business in 2006.

• Posted approximately ¥3.4 billion in extraordinary income in the first half of FY2024 from the sale of cross-shareholdings.

（Unit：millions of yen）

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

2021/3 2022/3 2023/3 2024/3 2025/3 2026/3

649 749 829 840 905 458 （1st Half）

186

178

175

169

161

144

235

223

226

224

230

224

210

210

215

205

191

212

220

206

192

193

250

200

150

100

50

0

Sales

（Unit：100 mil. of yen）

Operating profit

30 26

（Unit：100 mil. of yen）

29

20

11 9

10

15 15

23 20

17 16

21 25

18 20 21 21

15 16

20 24 24 22

0

1Q 2Q 3Q 4Q

2021/3

1Q 2Q 3Q 4Q

2022/3

1Q 2Q 3Q 4Q

2023/3

1Q 2Q 3Q 4Q

2024/3

1Q 2Q 3Q 4Q

2025/3

1Q 2Q 3Q 4Q

2026/3

Operating Profit margin

7.7%

10.2%

10.9%

9.2%

9.9%

10.0% （1st Half）

The core belt business increased, while the construction materials business declined.

• The core belt business performed steadily, with both domestic and overseas sales exceeding the level of the same period of the previous year.

• Construction materials:

  • Building segment: Sales decreased due to labor shortages at construction sites.

  • Civil engineering segment: Sales decreased from the same period of the previous year, reflecting fewer large-scale projects.

（Unit：millions of yen）

7.5%

6.5%

32.1%

by segment

2025/4 - 2025/9

Sales composition by segment

53.9%

55

50

45 37.5

40

35

Overseas sales ratio

43.7 46.5 46.5 46.3

49.5 52.9 54.6

• Belts (Japan)

• Belts (Global except Japan)

• Construction Material

• Others

  
  
  ‌Breakdown of Belt Sales（vs.PY（1st Half)） 6

  Sales in the automotive parts segment remained at the same level as the previous year. Sales of power transmission belts increased.

  • Automotive Parts: Sales remained nearly flat year on year. Demand for drive belts for electric units (such as EPS) for four-wheel vehicles was solid. However, the positive contribution was offset by the impact of yen appreciation.

  • Power Transmission Belts: Domestic: Demand recovered for agricultural machinery, injection molding machines, and robots.

    Overseas: Sales increased for agricultural machinery as inventory adjustments eased.

  • Office Automation Equipment: Domestic: Sales were nearly the same as the previous year.

    Overseas: Sales declined due to a decrease in printing-related demand.

  • Conveyor Belts: Sales increased, supported by strong demand from logistics warehouses and food processing plants.

    （Unit：millions of yen）

    7.0% 3.8%

    3.7%

    1st Half FY2025

    Sales composition by Industry

    Machinery Field

    		2025/3 (2024/4--2025/3)						2026/3		vs. PY (1st half)
    		1st Half	Share	2nd Half	Share	Full Year	Share	1st Half	Share	change	%
    Automotive Parts Field		21,417	55.3%	20,709	54.5%	42,126	54.9%	21,385	54.2%	−32	−0.1%
    Industrial	Power transmission belts	11,654	30.1%	11,818	31.1%	23,472	30.6%	12,367	31.4%	+713	+6.1%
    	OA equipment	1,570	4.1%	1,479	3.9%	3,049	4.0%	1,441	3.7%	−129	−8.2%
    	Conveyor belts	2,661	6.9%	2,622	6.9%	5,283	6.9%	2,766	7.0%	+105	+4.0%
    	Engineering plastics	1,437	3.7%	1,367	3.6%	2,804	3.7%	1,486	3.8%	+49	+3.4%
    		38,738	100%	37,995	100%	76,733	100%	39,445	100%	+707	+1.8%

    31.4% 54.2%

    600

    400

    200

    Belt Business Sales Composition by Industry (12-Year Trend)

• Automotive Parts Field

• Power transmission belts

• OA equipment

• Conveyer belts

• Engineering plastics

  0

  
  
  
  
  
  ‌Analysis of Operating Profit

  • (＋) Increase in sales

    Decrease in logistics costs

  • (－) Effects of sales composition

  Increase in labor costs /Effects of FOREX Rates

  
  
  

• Operating Profit ■ Positive factor ■ Negative factor

7

（Unit：100 mil. of yen）

（Unit：100 mil. of yen）

60 6.4

40

1.1 0.7 2.4

0.4

3.9

1.8

20

0

2024-2Q

Operating Profit

2025-2Q

Operating Profit

'24 Mid-Term Business Plan (FY2024-FY2026)

• 3-year capital investment budget ： 20.0 billion Yen

• The approved amount for FY2025 plan is approximately 5.2 billion yen.

(as of the end of September 2025)

• 1st Half ■ 2nd Half

（capitalized amounts ／ Unit：100 mil. of yen）

Capital expenditures

105

17

170

22

15

7

41

27

14

21

12

9

24

14

10

34

19

14

32

21

11

33

19

13

60

39

21

37

19

18

44

30

13

36

15

22

75

24

52

60

28

32

74

32

100

80

60

40

20

0

2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 2022/3 2023/3 2024/3 2025/3 2026/3(F)

Depreciation

60

40

20

0

31

16

16

28

14

14

29

15

15

31

17

14

31

16

15

28

15

14

30 30

16 16

14 15

33

18

15

40

22

17

39

20

18

41

21

20

43

22

21

47

26

22

48

26

22

2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 2022/3 2023/3 2024/3 2025/3 2026/3(F)

Steady progress in line with the initial plan

• The Company plans to achieve higher sales and operating profit excluding foreign exchange effects. The plan is based on an assumed exchange rate of JPY 12.6 stronger against the U.S. dollar compared with the previous fiscal year.

• In FY2024, the Company recorded an extraordinary income of approximately JPY 3.5 billion from the sale of cross-shareholdings.

（Unit：millions of yen）

'24 Mid-Term Business Plan (FY2024-FY2026)

ＤＯＥ target： approx. 5.4％

（Dividend per share：at least 180 yen / year）

97

100 100

Payout ratio 2009/3： 482％

2010/3： 130％

77

65

59

37

41

30

21

26

24

28

25

22

21

20 20

24

30

29

4

12

8

16

8

24

4

10

32

36

24

24

24

28

28

32

4

36

36

44

50

50

54 57 143 250 250 186 186

(yen) (％)

250

200

150

100

50

100

80

60

40

20

0 0

※ The share was consolidated (2 shares→ 1 share) on Oct. 1, 2018. The values of dividends are converted on the post-consolidation basis.

11

The Company has continued to acquire treasury shares.

（Total number of treasury shares acquired：50％ , Total number of treasury shares retired：40％）

• The Company aims to acquire 3 billion yen of shares in 3 years during "'24 Mid-Term Business Plan"(FY2024-FY2026).

• The Company plans to acquire treasury shares：Maximum 350,000 shares , 1 billion yen. (November 11, 2025 - January 30, 2026)

（Unit：Thousand Shares）

（Except acquisition and retirement of shares less than one unit）

（The share was consolidated (2 shares→ 1 share) on Oct. 1, 2018. The number of shares is converted on the post-consolidation basis.）

‌A P P E N D I X

Brought by the Advancement of EV Mobility

The Mitsuboshi Belting Group is working to develop and expand sales of new products in line with the electrification of

vehicles, recognizing the shift to electric vehicles as a major opportunity rather than a risk.

High-durability Long life

Compact Lightweight

Quiet Low-Vibration

Electrification compatible products

Timing belts for EPS drive

(for four-wheeled vehicles）

The belt-drive type EPS reduces inertia and friction during steering by applying assist power directly to the rack, and optimizes energy consumption compared to conventional EPS by driving the motor only when steering force support is required.

Moreover, it provides a more direct steering feeling and high response performance, contributing to comfortable and efficient steering support.

Timing belts for PSD actuators

(for four-wheeled vehicles）

Step-type PSDs driven by the timing belt provide high durability due to their simple structural design, while making it easy to secure excess space inside the doors, contributing to greater flexibility in vehicle design.

Since the number of parts is reduced, the system has a high cost advantage and is highly evaluated as a system that achieves both functionality and economy.

Rear-wheel drive timing belts

(for electric motorcycles）

Rear-wheel drive with a timing belt is lighter and more flexible than a chain, and reduces drive loss due to high-precision engagement, greatly contributing to improved power consumption efficiency (electricity cost).

Chain drive systems do not require regular maintenance, such as lubrication and tension adjustment, and significantly reduce noise during operation, contributing to improved comfort and environmental performance of Electric Motorcycles.

Under the corporate philosophy of "To give attentive consideration to both humanity and nature.", the Mitsuboshi Belting Group is working to solve each ESG issue with a focus on the identified materiality, with setting "contribution to the realization of a sustainable society (improvement of social and economic value)" as one of our goals in the FY2030 "Target Position,"

（For details of ESG initiatives, please check the integrated report using the QR code on the right.）

E

Environment

We announced its support for the recommendations of the TCFD*and joined the TCFD Consortium.

Our group's climate change initiatives are disclosed in line with the four pillars of the TCFD Recommendations: governance, risk management, strategy, and metrics

and targets.

S

Social

In our FY2030 "Target Position" and the '24 Mid-Term Business Plan, we have identified strengthening our human resources strategy as the most important theme for enhancing corporate value, and we are working to achieve this goal.

We also focus on efforts to respect human rights, taking up "respect for human rights and personality" as one of our materialities.

2024 Rank

Climate Change, Water Security ：B（2021：C）

Supplier Engagement Assessment ：A--

G

Governance

In order to implement ESG management quickly and effectively, we have established a Sustainability Council chaired by the President.

At this Council, we manage the

initiatives for the identified materiality and manage KPIs.

2025 Score

ESG Score ：3.4

（2021 ：1.4）

＊Task Force on Climate-related Financial Disclosures